Reform UK leader Nigel Farage announced in late may a new crypto-focused agenda that includes accepting political donations in Bitcoin and other digital assets. The announcement was made at the Bitcoin 2025 conference in Las Vegas, positioning Reform UK as the first major political party in the UK to integrate cryptocurrency into its campaign infrastructure.

Nigel Farage attended the Bitcoin 2025 Conference that was held in Las Vegas

Proposal for Bitcoin Reserves and Tax Reform

Farage stated that, if elected, Reform UK would advocate for the Bank of England to include Bitcoin as part of its reserves. The party also proposes a reduction in capital gains tax on crypto assets from 24% to 10%. According to Farage, these measures aim to encourage investment and position the UK as a hub for digital asset innovation.

Anti-Debanking Legislation and Opposition to CBDC

Reform UK is also pledging to introduce legislation that would prevent banks from closing accounts based solely on the user’s involvement in cryptocurrency transactions. Additionally, the party has made clear its opposition to the launch of a central bank digital currency (CBDC) in the UK, citing privacy concerns.

A Shift from UK’s Previous Crypto Posture?

The UK government has previously been cautious in its approach to digital assets, offering limited regulatory clarity and taking few steps to support the industry. Reform UK’s proposals represent a significant shift from the prevailing policy environment and bring cryptocurrency issues directly into the political mainstream.

Implementation Still Yet to Be Enacted

While the outlined policies are substantial, their implementation depends on Reform UK’s performance in the upcoming election. As of now, these proposals remain part of the party’s platform and have not been translated into law or formal government policy.

Nonetheless, we have seen some progress within the regulatory environment of the UK. In late April 2025, the UK government introduced draft legislation to regulate cryptocurrencies, aiming to drive innovation while enhancing consumer protection.

Published by the HM Treasury as of 29.4.25.

The proposed rules would bring crypto exchanges, dealers, and agents under the Financial Conduct Authority's oversight, requiring them to meet standards on transparency, consumer protection, and operational resilience.

Follow us on LinkedIn to receive push notifications on our latest posts.